Chief Executive Officer of Rockfire Resources, David Price commented: “We are thrilled with these results, which starts to demonstrate the potential of the Double Event vein system.
Having now drilled over the boundary into the Kookaburra licence, this opens up enormous potential within this tenement, which was only recently pegged by Rockfire. The Kookaburra licence has an additional 1.5km of the same vein system length to explore further to the west.”
“The most exciting aspect of this drilling, (aside from the high grade, near-surface gold), is discovering that this vein system is now over 4.5km in length, with two sections of 400m each now having been demonstrated to contain potentially economic grades and potentially mineable widths”.
“In 1987, Battle Mountain drilled 7 holes in the area recently drilled by Rockfire. These holes were disappointing, with only 29% of holes intersecting gold. Following detailed surface mapping, high-resolution ground magnetics and rock chip sampling by the Rockfire team, it was considered that the holes drilled in 1987 were drilled too far to the south and failed to adequately test the vein system. By siting the holes further to the north, and obtaining such pleasing gold intercepts, our geologists have demonstrated that meticulous, quality, geological mapping and conceptual thinking will find orebodies”.
Drilling intersects bonanza gold at Double Event
Rockfire Resources (LON: ROCK), is delighted to inform shareholders that its recent drilling at the Double Event Prospect in Queensland has intersected bonanza grade gold up to 26.90 g/t Au. This drilling has defined a further 300m of mineralised strike at Double Event, which forms part of the Lighthouse tenement and opened up the Kookaburra Licence, which is now known to host potentially economic gold grades near surface.
Highlights:
· Gold was intersected in all but one hole, with the exceptional hole being terminated after drilling into an historical mining shaft at 18m depth;
· Three holes containing gold were drilled over the Lighthouse boundary, inside the Kookaburra Licence, which results in a mineralised strike length exceeding 4.5km;
· 5m @ 6.39 g/t Au (from 27m), including 3m @ 10.04 g/t Au, and including 1m @ 26.90 g/t Au;
· 3m @ 2.94 g/t Au (from 15m);
· 3m @ 1.87g/t Au (from 31m);
· 2m @ 3.17g/t Au (from 13m);
· 4m @ 1.81 g/t Au (from 16m);
· 2m @ 1.47 g/t Au (from 21m);
· The average vertical depth to gold intersection is 18m from surface;
· The grades and widths encountered, signal real potential for the discovery of open pit resources.
Discussion of Drilling Results
Lighthouse lies within one of the most productive structural corridors on the east coast of Australia, hosting Pajingo (2.4Moz gold), Mt Leyshon (4Moz gold, 2.3Moz silver), Ravenswood (+4Moz gold) and Charters Towers (+7Moz gold). Rockfire is targeting another Mt Leyshon-style and size of deposit. Two operating CIP (carbon-in-pulp) gold processing plants are located within 50km of Double Event.
Reverse Circulation drilling undertaken in November 2018 on Rockfire’s 100%-owned Lighthouse tenement has returned intercepts of gold mineralisation at the Double Event Prospect, within the Lighthouse and Kookaburra tenements in North Queensland. Results from all 12 holes drilled have now been received from the laboratory.
Assay results above 0.1g/t Au for 12 holes drilled at Double Event in November 2018
